Netflix Hits New All-Time Highs After Blowout Q3 Earnings

Netflix, Inc. NFLX is touching all-time highs yet again after topping sales estimates in the third quarter.

The streaming media provider reported third-quarter sales of $2.985 billion, beating consensus estimates by $15 million.

Third-quarter GAAP earnings missed by 3 cents, at 29 cents per share. However, some reports said the adjusted earnings came in at 37 cents per share.

Domestic subscribers grew by 850,000 in the quarter (estimates called for about 770,000) and Netflix saw 4.45 million new international subscribers.

The company reaffirmed its FY2017 free cash flow expectations, and expects to turn in 6.3 million new global net adds in the fourth quarter.

Netflix is commitment to spending large sums on creating new content has ultimately cut into the U.S. contribution margins, declining both year over year and sequentially.

Management sees Q4 earnings of 41 cents per share with sales expected to come in at $3.274 billion; estimates called for EPS of 33 cents on sales of $3.15 billion.

At time of publication, shares traded at $207.69, up 2.5 percent in the after-hours session.

Related Links:

Analyst: International Netflix Subscriptions Expected To Impress In Q3, Beyond

Here Are The Key Numbers People Want To See From Netflix This Quarter

Image credit: Matthew Keys, Flickr